Fairvoy Private Wealth LLC Invests $3.35 Million in DocuSign, Inc. (NASDAQ:DOCU)

Fairvoy Private Wealth LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 37,197 shares of the company’s stock, valued at approximately $3,345,000.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of DocuSign during the third quarter worth $28,000. Brooklyn Investment Group acquired a new stake in DocuSign in the third quarter valued at $33,000. Modus Advisors LLC acquired a new stake in DocuSign in the fourth quarter valued at $36,000. Reston Wealth Management LLC acquired a new stake in DocuSign in the third quarter valued at $47,000. Finally, Avior Wealth Management LLC raised its holdings in DocuSign by 36.5% in the fourth quarter. Avior Wealth Management LLC now owns 542 shares of the company’s stock valued at $49,000 after acquiring an additional 145 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DOCU. Wells Fargo & Company upped their price target on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price target on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Robert W. Baird boosted their target price on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup boosted their target price on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley boosted their target price on shares of DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and an average target price of $92.45.

Insider Transactions at DocuSign

In related news, CEO Allan C. Thygesen sold 7,763 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.54, for a total value of $625,232.02. Following the completion of the sale, the chief executive officer now owns 100,062 shares of the company’s stock, valued at $8,058,993.48. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the completion of the sale, the director now directly owns 150,253 shares of the company’s stock, valued at $13,712,088.78. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 685,773 shares of company stock worth $66,032,726. Insiders own 1.66% of the company’s stock.

DocuSign Stock Performance

DocuSign stock opened at $93.85 on Friday. The company has a 50-day simple moving average of $92.10 and a 200-day simple moving average of $73.83. The firm has a market capitalization of $18.96 billion, a P/E ratio of 19.35, a P/E/G ratio of 8.74 and a beta of 0.89. DocuSign, Inc. has a one year low of $48.70 and a one year high of $107.86.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.